Axis Bank: PPF & Burgundy Account Queries

[hiraktalukdar]

1. For Family Priority Salary Accounts, to upgrade them to Burgundy Account, we need 30-Lakhs TRV. Does Axis Bank consider PPF Account Balance into that?
2. If I transfer my existing SBI PPF Account to Axis Bank (I will deal with SBI) in the middle of the year, would I lose any interest as SBI will transfer the starting of the year amount only (without any interest for this year) to Axis Bank?

 

[Quantum]

Does Axis Bank consider PPF Account Balance into that?

**Investment through Axis Bank to be considered.

@Priya Karam to confirm.

 

[hiraktalukdar]

**Investment through Axis Bank to be considered.

@Priya Karam to confirm.

Does this mean, if I have an Axis Bank PPF Account and 30L balance in it, I am eligible for an Axis Bank Burgundy Account?

 

[realjayt]

Does this mean, if I have an Axis Bank PPF Account and 30L balance in it, I am eligible for an Axis Bank Burgundy Account?

From Assam bro?

 

[Quantum]

Does this mean, if I have an Axis Bank PPF Account and 30L balance in it, I am eligible for an Axis Bank Burgundy Account?

Couple of months back when I reached out to Premium Experience support for some other query, I asked them about this as it was being asked by many folks here, they mentioned that one has to invest through Axis bank in whatever investment they are trying to use for TRV.
Just transferring it to Axis from somewhere else might not be directly considered under TRV for Burgundy.

 

[Priya Karam]

**Investment through Axis Bank to be considered.

@Priya Karam to confirm.

Yes it should be with Axis Bank only

 

[Priya Karam]

Does this mean, if I have an Axis Bank PPF Account and 30L balance in it, I am eligible for an Axis Bank Burgundy Account?

Yes, it will be considered for Burgundy account

 

[BMR]

Hi Technofino Team,

I want to open a Burgundy Salary Account but not getting answer to my queries from Axis RMs. I approached 2 branches but they were clueless and not showing any interest. Hence I am posting this query here.

So my net take home salary is 5.88 lac/month. In oct 2023, the credit was 5.88 lac but in Nov 2023 and Dec 2023, it was 2.90 lac due to tax deductions. I should start getting net takehome above 5 lacs from April 2024 onward.

Will axis consider this and open my Burgundy account ? RM says your account may get opened but you will not get the Burgundy benefits - I don't know what that means.

Thanks for any help in advance.

 

[realjayt]

Hi Technofino Team,

I want to open a Burgundy Salary Account but not getting answer to my queries from Axis RMs. I approached 2 branches but they were clueless and not showing any interest. Hence I am posting this query here.

So my net take home salary is 5.88 lac/month. In oct 2023, the credit was 5.88 lac but in Nov 2023 and Dec 2023, it was 2.90 lac due to tax deductions. I should start getting net takehome above 5 lacs from April 2024 onward.

Will axis consider this and open my Burgundy account ? RM says your account may get opened but you will not get the Burgundy benefits - I don't know what that means.

Thanks for any help in advance.

You will get burgundy benefits, I am sure as you qualify for the program. But the by their latest circular, they've stopped issuing M4B as LTF. Which was the biggest selling point of the programme. They’ve slapped a 30k plus gst fee on it to make it worse. So knowing this if you still want burgundy then go ahead

 

[Vasuki]

Hi Technofino Team,

I want to open a Burgundy Salary Account but not getting answer to my queries from Axis RMs. I approached 2 branches but they were clueless and not showing any interest. Hence I am posting this query here.

So my net take home salary is 5.88 lac/month. In oct 2023, the credit was 5.88 lac but in Nov 2023 and Dec 2023, it was 2.90 lac due to tax deductions. I should start getting net takehome above 5 lacs from April 2024 onward.

Will axis consider this and open my Burgundy account ? RM says your account may get opened but you will not get the Burgundy benefits - I don't know what that means.

Thanks for any help in advance.

Talk to @Priya Karam in Dm i guess .

For Burgundy query in small size branch directly talk to manager & ask them to be your Rm

Point is what do u want from Burgundy ? Account .

 

[BMR]

You will get burgundy benefits, I am sure as you qualify for the program. But the by their latest circular, they've stopped issuing M4B as LTF. Which was the biggest selling point of the programme. They’ve slapped a 30k plus gst fee on it to make it worse. So knowing this if you still want burgundy then go ahead

30k is not a problem, but I need the magnus for burgundy card ( I already have the old magnus card) . From what I am reading, they will not upgrade the card since my net salary credit will be a little less than 3 L (temporarily for next 2 months).

 

[Vasuki]

30k is not a problem, but I need the magnus for burgundy card ( I already have the old magnus card) . From what I am reading, they will not upgrade the card since my net salary credit will be a little less than 3 L (temporarily for next 2 months).

Talk to Bm of branch directly